Claire’s, of ear-piercing fame, files for bankruptcy

NEW YORK — Claire’s, the mall chain that has pierced the ears of millions of teens, has filed for Chapter 11 bankruptcy protection.

The accessories chain said Monday that its stores will remain open as it

restructures its debt. The company has two stores in Albuquerque — one at Coronado Center and one at Cottonwood Mall.

Claire’s said it is “confident” it will emerge from bankruptcy protection in September, having reduced its debt by nearly $2 billion.

Facebook sees worst stock loss in four years

NEW YORK — Facebook plunged to its worst loss in four years Monday and led a rout in technology companies. The social media company’s stock fell following reports that a data mining firm working for the Trump campaign improperly obtained data on 50 million Facebook users.

The drop in Facebook stock came after the New York Times and the Guardian reported that the firm, Cambridge Analytica, was able to tap the profiles of more than 50 million Facebook users without their permission. Lawmakers in the U.S. and Europe criticized Facebook and said they want more information about what happened. Investors wondered if companies like Facebook and Alphabet will face tighter regulation as a result.

The S&P 500 index sank 1.4 percent, to 2,712.92, its biggest loss since Feb. 8.